Article first posted on Stream, March 28, 2023.
Dallas Investment Fund Plans to Renovate Newly Purchased Irving Office Building; Retains Stream Realty Partners for Leasing
An Irving office building leased by Stream Realty Partners since 2010 has been sold to a Dallas-based real estate private equity fund.
Reserve Capital Partners, in partnership with Trinity Investors, purchased Crestview Tower at 105 Decker Court from Austin-based CapRidge Partners. The new owner has hired Dallas architectural firm Entos Design to completely reimagine the building’s entry, lobby, fitness center, tenant lounge, and outdoor patio. Reserve Capital’s construction team will oversee the multi-million-dollar renovation featuring design elements such as wood-slatted accent walls and ceilings, modern pendant lighting, and stylized directional wall graphics. Furniture, artwork, carpets, and wallpapers will boast warm, earth-tone colors. The project is expected to take approximately four months once plans are finalized. Financing for the project was provided by Jonathan Ferrell, Senior Vice President for Commercial Real Estate at Southside Bank.
Reserve Capital will retain Stream, a national commercial real estate firm offering an integrated platform of services, to lease the 12-story building in the booming Las Colinas submarket. Executive Vice President and Partner Tim Terrell and Managing Director Rhett Miller of Stream Dallas serve as the leasing agents.
“We are excited to improve an already great building in Crestview Towers and make it a true Class A asset located in the iconic submarket of Las Colinas,” said Reserve Capital Co-Founder Brant Landry.
Crestview Tower was designed to house the headquarters of firms seeking inspiring workspaces. Building amenities include a conference center, on-site property management, 24-hour security, keycard access, fiber internet, and day porters.
Tenants appreciate being within walking distance from 50,000 square feet of retail shops and local and chain restaurants. High-end residential units and hotels also are nearby. The property sits right off State Highway 114 and offers commuters easy access to SH 183 and 161 as well as interstates 35E and 635. Three major transportation hubs–Dallas Fort Worth International Airport, Dallas Love Field Airport, and Addison Airport–are 10 minutes, 15 minutes, and 23 minutes away, respectively.
“We are thrilled to initiate a relationship with Reserve Capital Partners, a firm we have admired since they planted their flag and quickly gained a reputation as a top-tier DFW owner,” Terrell said. “Our more than 10-year tenure at the building and Reserve Capital’s commitment to excellence bode well for the future of Crestview Tower.”
Crestview Tower is currently 78% leased. The office building has several speculative suites available with high-end finishes and access to full amenities. Rentable office spaces range from 943 square feet to 8,447 square feet.
